BS 8950:2020 Social Value Guide

Standard Number: BS 8950:2020

Pages: 40

Released: November 27, 2020

ISBN: 978 0 539 02457 9

Status: Standard

Unlock the Power of Social Value with BS 8950:2020

In today's rapidly evolving world, understanding and enhancing social value is more crucial than ever. The BS 8950:2020 Social Value Guide is your comprehensive resource for navigating the complexities of social value in a structured and effective manner. This guide is designed to help organizations, businesses, and individuals understand the concept of social value and implement strategies to enhance it within their operations and communities.

What is Social Value?

Social value refers to the broader non-financial impacts of programs, organizations, and interventions, including the well-being of individuals and communities, social capital, and the environment. It encompasses the positive changes that can be achieved through thoughtful and strategic actions, going beyond mere economic benefits to include social and environmental outcomes.

Why Choose BS 8950:2020?

The BS 8950:2020 standard provides a structured approach to understanding and enhancing social value. It offers guidance on how to identify, measure, and report on social value, ensuring that organizations can effectively communicate their contributions to society. By adopting this standard, you can:

• Enhance your organization's reputation by demonstrating a commitment to social responsibility.
• Improve stakeholder relationships through transparent and accountable reporting.
• Drive innovation by integrating social value into your business strategy.
• Contribute to sustainable development goals and create a positive impact on society.

Comprehensive Coverage in Just 40 Pages

Despite its concise format, the BS 8950:2020 guide packs a wealth of information into its 40 pages. It is meticulously crafted to provide clear and actionable insights, making it an essential tool for anyone looking to enhance their understanding of social value. Whether you are a seasoned professional or new to the concept, this guide offers valuable perspectives and practical advice.

Released with Precision and Expertise

Released on November 27, 2020, the BS 8950:2020 guide reflects the latest thinking and best practices in the field of social value. Developed by experts, it is grounded in real-world applications and designed to be relevant across various sectors and industries. The guide's ISBN, 978 0 539 02457 9, ensures its authenticity and accessibility for those seeking to enhance their knowledge and capabilities.

Who Can Benefit from BS 8950:2020?

This guide is ideal for a wide range of audiences, including:

• Businesses: Looking to integrate social value into their corporate strategy and operations.
• Non-profit Organizations: Aiming to maximize their social impact and communicate their value to stakeholders.
• Government Agencies: Seeking to implement policies and programs that deliver social value.
• Consultants and Advisors: Providing expertise and guidance on social value measurement and enhancement.
• Academics and Researchers: Exploring the theoretical and practical aspects of social value.

Enhance Your Social Value Strategy Today

With the BS 8950:2020 Social Value Guide, you have the opportunity to transform your approach to social value. By understanding and enhancing the social impact of your actions, you can create meaningful change and contribute to a better world. This guide is not just a standard; it is a pathway to a more sustainable and socially responsible future.

Conclusion

Incorporating social value into your organizational framework is no longer optional; it is a necessity for those who wish to thrive in the modern landscape. The BS 8950:2020 guide provides the tools and insights needed to make informed decisions and drive positive outcomes. Embrace the power of social value and take the first step towards a more impactful and responsible future with this essential guide.

BS 8950:2020

This standard BS 8950:2020 Social value. Understanding and enhancing. Guide is classified in these ICS categories:

• 03.100.99 Other standards related to company organization and management

This British Standard:

1. gives guidance and principles for the understanding, preservation and enhancement of social value;

2. focuses on the collection and use of appropriate data for making decisions about social value in all types and sizes of activities, organizations and groups, including public, private and social purpose organizations working alone or with others; and

3. creates a framework for measuring social value building on and linking to existing principles and frameworks.

This standard does not provide:

1. detailed practical instructions for carrying out specific related social value activities; and

2. standardized data for qualifying impact.

The intended users of this guide are decision makers within organizations and those who support the decision‑making process. They cover:

1. organizations and companies in all sectors – public, private, civil society, and government, as well as collaborations and partnerships;

2. investors, commissioners and advisors; and

3. those who are already measuring social value as well as those who are new to the idea.

NOTE Different audiences are likely to experience specific issues in understanding, preserving and enhancing social value although the basic frameworks and data types and are unlikely to vary significantly. See  4.2.3  for more detail.